Is Renters Insurance Per Person?
Do you exactly know what coverages your home insurance company covers and what it does not? What about roof damage due to wind? Oftentimes, people rush into buying home insurance without knowing their needs and perils. Perhaps, they give in discounts and cheaper average house insurance cost deals too easily. Hence, they end up with a home insurance company that fails to meet their expectations and help them in need.
That’s why we’ve explained what you need to know about roof wind damage in this blog. Strong winds and extreme weather can cause severe damage to your home’s roof. Wind damage to your roof can result in missing shingles, broken frames, or in the worst-case scenario, serious damage from falling trees or debris. Hence, you might have to deal with expensive and time-consuming repairs a windstorm. So, acknowledge if your homeowners insurance policy covers such damage. If interested make sure to read our blog on should i get renters insurance for college dorm?
3 Things to Be Aware Of Roof Wind Damage and Your Home Insurance And Figure Out Is Renters Insurance Per Person?
- Identifying the Severity of Roof Damage
If you experience roof damage after severe weather, call your insurance company in Mountain Cove right away. It’s important to understand that, in most cases, the insurer may attempt to fix the damage before repairing the entire roof. But depending on the severity of the damage, the roof might need complete replacement as well. Nevertheless, before doing anything, inform your insurer. Likewise, find an agent to avail great deals and discounts on homeowners insurance cost.
However, this doesn’t mean that you should not take immediate action for further damage prevention. You can take pictures of the damage on your roof, and note down the changes you’ve made. Them=n, click pictures again and inform the insurer.
- What Kind of Homeowners Insurance Do You Own?
Any home insurance company writes the policy in one of two ways:
- On the basis of replacement cost
- On the basis of actual cash value
According to Value Penguin, renters insurance only covers the persons specified on the policy, so if your roommate isn’t included, you won’t be protected. If you have a home insurance policy that is based on replacement cost, your insurer will payout your claim to replace the damaged belongings with something similar. However, the compensation you get will be equal to the present value of the damaged belongings on the basis of real cash value. Therefore, this means that the insurer will take depreciation into account. A replacement cost basis will be appropriate for wind damage because it does not take into account the age of the roof.
- Claim Options for Wind Damage
As we said earlier, contact your insurance company as soon as the damage happens. Then, explore your claim options. Make sure you have all of the information you need about the damage and your insurance quotes documents ready.